Kenya Airways has received a KSh5 billion ($49 million) loan on commercial terms from the Government of the Republic of Kenya, through the National Treasury, to facilitate the scheduled engine overhaul programmes on its E190 Embraer fleet.
The cash injection will cater for the overhaul of 11 GE Aviation CF34-8E-10 engines, which is required every eight years in order to uphold the highest levels of safety and maintain reliability and planned network schedules.
The announcement has been made to the public pursuant to paragraph A.06 of the Fifth Schedule of the Capital Markets (Securities) (Public Offers, Listing and Disclosures) Regulations, 2002.
“I would like to thank the Government of Kenya for making these funds available to us. As an airline, we need to be efficient across our operations but more importantly across our fleet. The Embraer fleet is our largest and is the networks’ workhorse,” said Kenya Airways’ chairman, Michael Joseph.
“We also plan on undertaking refurbishments on our two Boeing 737-700 aircraft. The refurbishment will guarantee our passengers a better experience on their flights with us. The airline commits to prudent utilisation of the funds to ensure value for money.”